Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-23-Speech-4-489-750"
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"en.20110623.37.4-489-750"2
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".
The economic governance package approved by a right-wing majority in the European Parliament will risk entrenching austerity in EU law. I voted against the overall package as I do not believe it is the right thing to do in the current financial climate. Right-wing governments are trying to push through a number of economic policies that cut deficits in the short term but provide no hope for economic growth in countries in the long term. Improved coordination on economic policy is without doubt a good idea for Europe’s long-term growth. However, we need a progressive alternative to ensure growth in the economy – without growth in the economy it is impossible to provide jobs and fund public services. Investment spending should be dealt with separately from regular annual government spending in the debt rules. It is also vital for governments to be able to undertake stimulus spending, as the Labour government did in 2008/2009, to prevent this crisis from turning into a global depression."@en1
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